CFPB, Federal Agencies, State Agencies, and Attorneys General
FinCEN and the federal banking agencies have clarified that Suspicious Activity Report (SAR) confidentiality does not prevent banks from communicating with customers about the underlying transactions or conduct that prompted concern, including explaining certain fraud-related restrictions or account closures.
The September 2 joint statement from FinCEN, the Federal Reserve, FDIC, NCUA and OCC does not change the Bank Secrecy Act or impose new supervisory requirements.… Continue Reading
As we have chronicled in our blog, states are increasingly moving to fill the consumer-protection void created by the CFPB’s dramatic retreat from supervision, enforcement and rulemaking. State legislatures are considering and enacting new consumer-finance protections; state attorneys general are bringing more enforcement actions under state UDAP and other laws, often in bipartisan and multistate coalitions; and state financial regulators are expanding their supervisory and enforcement efforts.… Continue Reading
The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) on August 27, 2026, finalized a rule (which was published in the Federal Register on September 1, 2026) that establishes new standards for determining when a bank has engaged in an “unsafe or unsound practice” and when examiners may issue a Matter Requiring Attention (MRA) (for the FDIC, MRAs will now replace the former MRBAs, Matters Requiring Board Attention).… Continue Reading
John Crews has been sworn in as a member of the NCUA board and has been designated by President Trump as its Chairman.
Crews, who has worked for Trump and Republicans on Capitol Hill, currently is the sole member of the three-member NCUA board. Crews replaces Kyle Hauptman
“I appreciate the trust and support that the President has placed in me, and the U.S.… Continue Reading
As previously reported, in February 2022, eight federal agencies issued an Interagency Statement encouraging the offering of special purpose credit programs (SPCPs) under the Equal Credit Opportunity Act (ECOA). The agencies were the CFPB, FDIC, OCC, Fed, NCUA, HUD, DOJ, and FHFA. Seven of the agencies have now rescinded the Interagency Statement.… Continue Reading
The FDIC has announced the panel for its new Office of Supervisory Appeals. The panel is comprised of independent officials who will consider and resolve appeals of material supervisory determinations brought before the agency.
The office is a standalone office inside the FDIC and replaces the Supervision Appeals Review Committee (SARC) as the last level of review of material supervisory determinations.… Continue Reading
The Consumer Financial Protection Bureau announced on August 14, 2026, that it will cease its discretionary publication of consumer complaint narratives and associated data visualizations in the Consumer Complaint Database which it is statutorily required to maintain under the Dodd-Frank Act. The CFPB’s announcement represents a significant change in the way the Bureau makes consumer complaint information available to the public.… Continue Reading
In March, we reported on New York City’s new Stopping Harassment and Intimidation and Ensuring Lawful Debt Collection Rule (the “SHIELD Rule”), which substantially expands the Department of Consumer and Worker Protection’s (“DCWP”) regulation of debt collection in New York City and goes beyond the federal Fair Debt Collection Practices Act (“FDCPA”) and Regulation F. … Continue Reading
The Federal Trade Commission (FTC) has taken a major step toward dismantling two theories of discrimination.
In a new Policy Statement Regarding Disparate-Impact Claims and “Unfair Discrimination” Claims, the FTC announces that it will no longer pursue disparate-impact claims under the FTC Act or the Equal Credit Opportunity Act (ECOA). Just as significantly, although less prominently emphasized in the Policy Statement, the FTC has now repudiated its position that the “unfairness” prong of Section 5 of the FTC Act independently authorizes the Commission to pursue discrimination claims.… Continue Reading
The Senate Judiciary Committee’s Subcommittee on Crime and Counterterrorism held an unusually consequential hearing on August 4 entitled “Your Data, Their Profit: The Consumer Cost of AI Surveillance Pricing.”
The hearing produced something that has become increasingly rare in Washington: substantial bipartisan agreement that Congress should do something about the use of consumers’ personal data to set individualized prices.… Continue Reading
